SAN JOSE, Calif., Aug. 22, 2019 /PRNewswire-PRWeb/ -- NES Financial, a fintech company providing technology-enabled solutions for the efficient back- and middle-office administration of complex financial transactions, announced today that it has contracted to provide its 40th Opportunity Zone client with a purpose-built Opportunity Zone Fund Administration.
"NES Financial's purpose-built solution for opportunity zone funds allows them to demonstrate the measurable good they were designed to achieve," said Michael Halloran, CEO at NES Financial. "With our combined Silicon Valley and Big-Four DNA at NES Financial, we have found considerable demand among the industry's highly-desired funds."
NES Financial works with clients invested in creating positive economic impact throughout the country, including Wall Street leaders and real estate sponsors like Cantor Fitzgerald, to operating business and real estate funds such as Hotbed Entertainment Group's fund, which was created by key players from Blue Man Group.
Opportunity Zone Funds are qualified private-sector investment vehicles that invest at least 90 percent of their capital into Opportunity Zones (OZs) — designated economically distressed areas across the U.S. The tax incentives associated with the OZ program were developed to foster long-term investment into these areas, with benefits accruing to investors at 5-, 7- and 10-year milestones.
The NES Financial Opportunity Zone Fund Administration is the only purpose-built OZ fund administration solution that addresses all the elements of the program. The solution leverages technology to streamline fund managers, attract investors, facilitate compliance, and ultimately, helping the Opportunity Zones program do the measurable good it was meant to do.
For additional information about the Opportunity Zone Fund Administration, please visit the NES Financial website or contact an NES Financial representative at 1-800-339-1031.
About NES Financial
NES Financial is a specialty financial administrator which serves sectors characterized by high administrative complexity, increased transaction security needs, and challenging regulatory compliance requirements. The company's purpose-built solutions streamline the administrative processes of these markets — simplifying specialized financial transactions, curtailing fraud and abuse and helping ensure the utmost in security, transparency and regulatory compliance through each step of an investment's life cycle.
With its Silicon Valley DNA, proprietary fintech platform and over 15 years of specialty financial administration leadership, NES Financial has defined best practices in each of the markets it serves — from 1031 exchanges and EB-5 visa funding, to private equity and the landmark Opportunity Zones program. Today, NES Financial services more than 290 funds, administers over $20B annually, and has worked with more than 700 EB-5 projects. For more information, please visit nesfinancial.com.
SOURCE NES Financial
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